CHART OF THE DAY: Apple's New Trade-In Program Should Fix This Problem

Basically, if you show up at an Apple store with iPhone 4S, Apple
will hand you cash for that phone to get you to buy an iPhone 5.
This is good for users, and obviously, it's good for Apple if
more people are able to afford new iPhones. It can also take
those used phones and sell them in places like China.

Most people don't trade in their old smartphones, according to
Gazelle, a startup that does electronics trade-ins. As you can
see in this chart, 82% of people either put their old phones in a
drawer, or give them away to a friend.

Apple's trade-in program for the iPhone should change that. If
you're showing up at an Apple store with an old iPhone, it's
going to be super easy to sell that old iPhone to Apple and get a
few extra bucks to put towards a new iPhone purchase. Frankly,
it's weird Apple is just doing this now.